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Consultant


ADNOC SIGNS FRAMEWORK AGREEMENTS WORTH $1BN WITH EIGHT TOP-TIER GLOBAL
ENGINEERING CONTRACTORS FOR FEED SERVICES

By Gavin Davids
Posted on August 24, 2021
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Agreements underpin ADNOC’s smart approach to procurement



The Abu Dhabi National Oil Company (ADNOC) has announced the signing of
framework agreements for Concept and Front-End Engineering Design (FEED)
services for major projects across its full value chain to support the delivery
of its 2030 strategy.

ADNOC signed the framework agreements with AMEC International Ltd (part of the
Wood Group), Fluor, McDermott, Mott MacDonald, SNC-Lavalin International Arabia
Limited – Abu Dhabi (part of the Kentech Group), Technip Energies, Worley, and a
joint venture between Tecnicas Reunidas and NPCC.

The framework agreements – which were signed with eight top-tier global
engineering contractors – have a combined scope worth up to $1 billion and the
potential for 50% of the value to flow back into the United Arab Emirates’ (UAE)
economy under ADNOC’s In-Country Value (ICV) program, over the agreement term
between 2021 and 2026.

The scope of the agreements is based on the forecasted requirement for external
project engineering services across the ADNOC Group, a statement said. It added
that the nature of the agreements underpins ADNOC’s smart approach to
procurement which is enabling it to drive value and commerciality across its
portfolio.

By structuring the framework agreements with a group of top-tier contractors
instead of procuring smaller individual agreements, ADNOC was able to secure
pre-agreed terms and conditions thereby reducing tendering cycle by months,
achieve highly competitive rates by leveraging long-term contracts that service
its entire portfolio, and establish a group-wide performance management and
review process that provides high visibility of contractor performance, the
statement explained.



Abdulmunim Saif Al Kindy, ADNOC People, Technology & Corporate Support Executive
Director, said: “We are very pleased to engage with the eight top-tier
engineering contractors awarded to provide best-in-class engineering expertise
on our strategic projects across our full value chain.

“These framework agreements follow a very competitive tender process, and the
smart nature of the deals will deliver substantial cost savings, optimise
project delivery schedules and provide ADNOC with increased flexibility to drive
its growth targets and proactively respond to the demands of the fast-evolving
energy landscape.

“In addition, the agreements offer the potential to create additional skilled
employment opportunities for Emiratis and include commitments that contracted
services will primarily be carried out in the UAE, ensuring more economic value
remains in the country from our contract awards,” he stated.

The agreements will run for five years, with an option for a two-year extension.
The eight contractors have committed to set up and run enhanced training
programs to further develop local expertise and enable knowledge transfer.

As an integral part of its 2030 strategy, ADNOC is optimising its procurement
strategy to reflect market dynamics, focusing on long-term contracts with a
reduced number of suppliers that provide stable and reliable delivery at highly
competitive rates.

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Related Items:Abu Dhabi National Oil Company (ADNOC), contractors, contracts,
featuredpost, Fluor, front-end engineering design (Feed), McDermott, MEC
International Ltd (part of the Wood Group), Mott MacDonald, NPCC, SNC-Lavalin,
SNC-Lavalin International Arabia Limited – Abu Dhabi (part of the Kentech
Group), Technip Energies, Tecnicas Reunidas, TENDERS, uae, Worley

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Machinery


GLOBAL CONSTRUCTION EQUIPMENT SALES TO TOUCH RECORD LEVELS THIS YEAR – REPORT

By Anirban Bagchi
Posted on August 24, 2021
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Off-Highway Research expects Covid stimulus packages to help sector hit a
projected $110bn with 1.13 million units sold, beating mark set in 2018



A new report from specialist market research company Off-Highway Research
projects sales of construction equipment to hit $110bn globally this year, with
expected unit figures of 1.13 million.

The forecast says that this figure, if it were to be realised, would be a record
high, beating the 1.11 million units sold in 2018 by 2%.

According to Off-Highway Research, stimulus packages by governments around the
globe in response to the Covid-19 pandemic will be the reason for the record
high, with the Chinese government leading the pack.

This latest prediction was absent before the pandemic hit but responses from
government bodies has led to the revision. As an example of these responses,
Off-Highway Research cited special bonds issues by Chinese provinces last year
to raise money for infrastructure work. These and other stimulus packages have
already led o the Chinese equipment market rising 30% in a growth that continued
into Q1 2021. Even with the Chinese market slowing down since, the total sales
for 2021 are expected to be only 2% lower.

Meanwhile, other global markets are expected to continue rising this year, with
Off-Highway Research projecting the European market to grow by 15% in in 2021,
an upward revision of its previous forecast which had a single-digit figure. In
terms of volume, Europe is can be expected to reach levels similar to its
cyclical high in 2019, the report added.

The report also projects an increase of 13% for North America, which will keep
it just shy of the high point of that market in 2019. Japan, too, will register
a rise of 1%, which, though modest, will beat expectations of negative growth.

The big downgrade in this year’s forecast comes for India, whose figures have
been revised downwards to 11% from the previous level of 15%, owing to the
second wave of Covid infections in the country in Q2 this year.

For the rest of the world, including markets such as Africa, South America and
the Middle East, Off-Highway Research forecasts an average sales growth rate of
6% this year.

Chris Sleight, managing director, Off-Highway Research, said: “The global
rebound in equipment sales over the last six to nine months has been striking.
While this is excellent news, the industry still faces many challenges in
meeting this demand, including supply chain constraints and bottlenecks around
shipping and other logistics. I believe that, without these, sales this year
might have been even higher than the record volumes we are predicting. However,
the positive in this is that the current buoyancy should extend well into 2022
as a result.”


Related Items: Construction equipment market forecast, equipment, featurednews,
Global equipment sales, MACHINERY

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ADNOC signs framework agreements worth $1bn with eight top-tier global
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